Corporate Presentation November 2019 l DISCLAIMER This - PowerPoint PPT Presentation

Corporate Presentation November 2019 l

DISCLAIMER This presentation is made on behalf of Alba Mineral Resources PLC (“the Company”) . This presentation does not constitute an admission document relating to the Company nor does it constitute or form part of any offer or invitation to purchase or subscribe for, or any solicitation of any such offer to purchase or subscribe for, any securities in the Company. No reliance may be placed by any person for any purpose whatsoever on the information or opinions contained in this presentation or on the completeness, accuracy or fairness thereof. No representation or warranty, express or implied, is given by or on behalf of the Company, its directors, officers or employees or any other person as to the accuracy or completeness of the information or opinions contained in this presentation, and no liability is accepted for any such information or opinions (including in the case of negligence, but excluding any liability for fraud). This presentation does not constitute a recommendation regarding any decision to sell or buy securities in the Company. If any person is in doubt as to the contents of this presentation, or wishes to obtain advice as to the investment merits of the Company’s securities, he should seek independent advice from a person who is an authorised financial services provider. This presentation is not for distribution in, nor does it constitute an offer of securities for sale in, any jurisdiction where such distribution or offer is unlawful. The distribution of this presentation in some jurisdictions may be restricted by law and persons into whose possession this document comes should inform themselves about and observe any such restrictions. All statements (other than statements of historical fact) included within this presentation, including without limitation, the strategies, plans, expectations and objectives of the Company, and the markets and economies in which it operates, are forward-looking statements. A variety of factors could cause the actual results and circumstances to differ materially from the anticipated results or other expectations expressed in the forward-looking statements. These statements are illustrative only and do not amount to any representation that they will be achieved as they involved risks and uncertainties and relate to events and depend upon circumstances which may or may not occur in the future and there can be no guarantee of future performance. Forward-looking statements may also include (but are not limited to) reserve and resource estimates and targets and production rates which involve an assessment, based on certain estimates and assumptions, by the operators of projects in which the Company has invested (together “investee companies”) . The total amount, rate or timing of actual future production may vary from estimates, projections and targets. Those forward-looking statements have not been independently verified by the Company. Competent Person’s Statement (Mining): The information contained in this presentation in relation to the Company’s mining projects has been reviewed and approved by Howard Baker, Technical Director of Alba Mineral Resources Plc. Mr Baker is a Chartered Professional Fellow of the Australasian Institute of Mining and Metallurgy (Membership Number 224239) and a Competent Person as defined by the rules of International Reporting Codes that are aligned with CRIRSCO. Mr Baker has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration targets, Exploration Results, Mineral Resources and Ore Reserves’, also known as the JORC Code. The JORC code is a national reporting organisation that is aligned with CRIRSCO. Competent Person’s Statement (Oil & Gas): The technical information contained in this presentation in relation to the Company’s oil & gas investments has been reviewed and approved by Feroz Sultan (BSc (Hons) Geology, MSc, Petroleum and Structural Geology, Karachi and MSc Petroleum Geology, Imperial College London), a petroleum geologist with over 45 years' experience in the management, exploration, development and production of oil and gas. 1

OVERVIEW ALBA OVERVIEW  A diversified portfolio of mining assets and oil & gas investments  With high-grade, near-term production potential  Operating in stable jurisdictions Market AIM Share Price 0.19p (at 31/10/19) Symbol ALBA Market Cap £6.7mil 2

OVERVIEW ALBA’S BOARD AND MANAGEMENT George Executive Chairman Over 25 years’ experience in natural resources, Frangeskides corporate advisory & legal sectors in the UK, Europe, Africa and Australia Mike Nott Non-Executive Director Geologist and mining engineer with over 40 years’ experience Manuel Lamboley Non-Executive Director Over 30 years' experience in international broking and investment banking Howard Baker Technical Director Geologist with over 20 years’ experience, including (Mining) with Rio Tinto, BHP Billiton, Iluka Resources, WMC and Anaconda Nickel Feroz Sultan Technical Director Petroleum geologist with over 40 years of diverse (Oil & Gas) experience, and has managed both onshore and offshore oil and gas field developments Sarah Potter Head of Finance Chartered Accountant with over 10 years’ experience in industry, including with Jaguar Land Rover, CBRE and Anglo American (Tarmac) 3

OVERVIEW ALBA INVESTMENT CASE  Alba is targeting near-term production opportunities to generate significant revenues: at Horse Hill , where:  commercial production is slated for end 2019  continuous test production has been in place since July 2018, with over 70,000 barrels produced  a second well is now being drilled – for a significant ramp-up in production  planning permission is now in place for 25 years of production  Alba will share in ongoing net production revenues following start of commercial production  Alba not currently contributing to expenditure – cash can now be focused on key mining assets  and at Clogau , where:  Alba aims to restart production at the previously producing Clogau gold mine within 2-3 years  a current gold price of ~$1500 – plus a significant premium for Welsh/Clogau gold – underpins  the economic case to restart production  Alba is focused on a key group of high-grade mining assets in sought-after commodities: at Thule Black Sands (ilmenite) – JORC Resource, with a major mining group (Rio Tinto)  focusing on the region at Amitsoq (graphite) – world-class grades, and a significant proportion of higher-value flake  graphite at Clogau (gold) – restarting mine production, while exploring a hugely prospective gold belt   Alba’s management team has over 180 years of combined industry experience  This presentation focuses on Alba’s key assets: Clogau, Amitsoq, Thule Black Sands and Horse Hill 4

UK ASSETS CLOGAU GOLD MINE  80,000 troy ounces were produced from Clogau historically.  The mine closed in 1998, when the gold price was only $300/oz (the gold price is now $1500/oz) ( background, specimen of gold from Clogau )  Clogau has provided the gold for several generations of Royal wedding rings  Clogau gold attracts a significant premium above normal gold spot prices ( background, the wedding ring of Meghan, Duchess of Sussex, made from gold from the Clogau-St. David’s Mine ) 5

UK ASSETS CLOGAU: MINE REHABILITATION Extensive rehabilitation works have been completed in the mine… …and the installation of 60m of …including an entirely new ladderways between the Upper roof section for the Lower Adit and Lower Adits 6

UK ASSETS CLOGAU: UNDERGROUND EXPLORATION  Several tonnes of mined and unprocessed material have been collected, with tens of tonnes still to be collected (images left and centre, above)  The plan involves drilling up to 1,000m from the existing underground development, at various locations along the Tyn Y Cornel and Llechfraith levels (above, right) 7

UK ASSETS CLOGAU: REGIONAL-SCALE EXPLORATION An unprecedented 12-month regional soil sampling campaign, with gold mineralisation now confirmed across ~9 km And with gold-in-soil average grades for these new anomalies exceeding those for the historic mines 8

UK ASSETS CLOGAU: TEN NEW GOLD ANOMALIES The yellow areas below represent new anomalies (with no historic mining) and the red areas represent historic mining areas The largest new anomaly (areas 1+10 combined) has a strike extent of 2km (4x longer than the strike extent of the historic Clogau mine) 9

UK ASSETS CLOGAU MINE: SURFACE DRILLING A high priority for drilling will be to target extensions to the Llechfraith mine (see below) Potential ore shoots are shown in dark yellow within the inset cross-section (left), only 200-300m of drilling required here Plans are also being finalised (see right) for drilling down into the underground workings. 22 drill holes are planned here for Spring 2020 (~5000m of drilling) 10